Managing Director of Nigeria Liquefied Natural Gas Limited, NLNG, Mr. Tony Attah, has said the company in which Nigeria holds 49 per cent equity, has contributed $20 billion in revenue and $6 billion in taxes to the economy in the last five years.
Attah made the disclosure, yesterday when he visited the Minister of Information and Culture, Alhaji Lai Mohammed, in Abuja.
He commended the minister for the role he had played in bringing positive change to Nigeria.
He said: “Minister, we appreciate your role in the Change Agenda, we appreciate your role in carrying the entire Nigeria along in terms of the Change Agenda through positive information because, as we say, an informed society is a society that is most likely to move along to a positive height,” he said.
Attah said the organization was equally playing a critical role in technology transfer, in collaboration with some universities, adding that it was also intensifying efforts to develop LPG to further diversify the energy source for the country.
On his part, the minister commended the NLNG for promoting creativity through the NLNG Literature prize and urged the organization to extend similar gesture to the Federal Government’s National Re-orientation Campaign, tagged ‘Change Begins with Me,” to be launched on Thursday.
He said: “Of all the good things you have done, the one that struck me most has been the Literary Prize. It speaks volumes for a company, which is involved in gas exploration, to realize that it must also institute a prize for the creativity industry. It is a realization that the single most important investment you can make is the investment in human mind.”
Dangote takes:
Nigeria and African richest business mogul, Aliko Dangote has urged the federal government to sell off the Nigerian Liquified Natural Gas company, NLNG as well as other dormant but huge capital-generating sectors and invest the proceeds back into the economy to bring Nigeria out of its current recession before the end of fourt quarter.
In an interview with CNBC Africa, the billionaire said: “The only way for us to get out of this recession is to make sure we move into action quickly; action by diversifying the economy quickly.
“If I had challenges in my company, I would not hesitate to sell assets, to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organisation.
“What we need to do now in my own thinking… we have a lot of assets to sell. We can sell part of the joint venture; part of the shares. You know government normally owns 60 percent.
“We can sell in an open tender be it Chinese. We can change the term and make it an operating one, just like what we have in NLNG. We also have another asset I think we don’t really need.
“The African finance corporation; it can fetch them $800million easily. My own suggestion before was that they should even sell 100 percent of NLNG. I don’t think government should be in any business of investing in sectors of LNG.
“A company like that, with earnings of $1.5 billion on the average, they should get anywhere between $12 billion and $15 billion.”
Dangote suggested investing the proceeds back into the economy to boost development.
“You will not believe that the crisis that we have today, if we have $15 billion, adding it to our $25 billion, that is $40 billion reserves. That will give confidence, confidence will come back, then government will back it up with proper economic policy, where people can see the roadmap.
“Latest by fourth quarter we will be out of recession. It should be a partnership between government and private sector. We have all the answers, Nigeria falling into recession does not really scare me, if we take action.
The businessman said if the government boosts reserves as suggested, the naira may fall to 250 to the dollar and help the economy.
“Once we can sell assets, and put $15 billion together, you’d be very shocked at how much the dollar will actually drop, you can easily see 250. What is happening today is mere speculation.
“To currency, everybody will speculate, banks will speculate, companies will speculate, individuals will speculate, because if you have money you want to send in from abroad you will keep sending in trickles.
“If you know that CBN has $40 billion in reserves today, if you have $100,000, you might even sell it forward because you know that this rate is going to crash and you must quickly sell it.”
Attah made the disclosure, yesterday when he visited the Minister of Information and Culture, Alhaji Lai Mohammed, in Abuja.
He commended the minister for the role he had played in bringing positive change to Nigeria.
He said: “Minister, we appreciate your role in the Change Agenda, we appreciate your role in carrying the entire Nigeria along in terms of the Change Agenda through positive information because, as we say, an informed society is a society that is most likely to move along to a positive height,” he said.
Attah said the organization was equally playing a critical role in technology transfer, in collaboration with some universities, adding that it was also intensifying efforts to develop LPG to further diversify the energy source for the country.
On his part, the minister commended the NLNG for promoting creativity through the NLNG Literature prize and urged the organization to extend similar gesture to the Federal Government’s National Re-orientation Campaign, tagged ‘Change Begins with Me,” to be launched on Thursday.
He said: “Of all the good things you have done, the one that struck me most has been the Literary Prize. It speaks volumes for a company, which is involved in gas exploration, to realize that it must also institute a prize for the creativity industry. It is a realization that the single most important investment you can make is the investment in human mind.”
Dangote takes:
Nigeria and African richest business mogul, Aliko Dangote has urged the federal government to sell off the Nigerian Liquified Natural Gas company, NLNG as well as other dormant but huge capital-generating sectors and invest the proceeds back into the economy to bring Nigeria out of its current recession before the end of fourt quarter.
In an interview with CNBC Africa, the billionaire said: “The only way for us to get out of this recession is to make sure we move into action quickly; action by diversifying the economy quickly.
“If I had challenges in my company, I would not hesitate to sell assets, to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organisation.
“What we need to do now in my own thinking… we have a lot of assets to sell. We can sell part of the joint venture; part of the shares. You know government normally owns 60 percent.
“We can sell in an open tender be it Chinese. We can change the term and make it an operating one, just like what we have in NLNG. We also have another asset I think we don’t really need.
“The African finance corporation; it can fetch them $800million easily. My own suggestion before was that they should even sell 100 percent of NLNG. I don’t think government should be in any business of investing in sectors of LNG.
“A company like that, with earnings of $1.5 billion on the average, they should get anywhere between $12 billion and $15 billion.”
Dangote suggested investing the proceeds back into the economy to boost development.
“You will not believe that the crisis that we have today, if we have $15 billion, adding it to our $25 billion, that is $40 billion reserves. That will give confidence, confidence will come back, then government will back it up with proper economic policy, where people can see the roadmap.
“Latest by fourth quarter we will be out of recession. It should be a partnership between government and private sector. We have all the answers, Nigeria falling into recession does not really scare me, if we take action.
The businessman said if the government boosts reserves as suggested, the naira may fall to 250 to the dollar and help the economy.
“Once we can sell assets, and put $15 billion together, you’d be very shocked at how much the dollar will actually drop, you can easily see 250. What is happening today is mere speculation.
“To currency, everybody will speculate, banks will speculate, companies will speculate, individuals will speculate, because if you have money you want to send in from abroad you will keep sending in trickles.
“If you know that CBN has $40 billion in reserves today, if you have $100,000, you might even sell it forward because you know that this rate is going to crash and you must quickly sell it.”
No comments:
Post a Comment